Oil Giant TotalEnergies Partners with Bahrain's Bapco for Advanced Refinery Optimization And Product Trading
Portfolio Pulse from Lekha Gupta
TotalEnergies (NYSE:TTE) has entered into a partnership with Bahrain's Bapco Energies to optimize the Sitra refinery and engage in petroleum products trading. This collaboration aims to leverage TotalEnergies' global supply and trading expertise to enhance Bapco's operations. Additionally, TotalEnergies recently signed an agreement with Sembcorp Fuels and reported a revenue of $59.237 billion for Q4 FY23, exceeding expectations and increasing dividends by 7.1%.
March 04, 2024 | 11:38 am
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TotalEnergies partners with Bapco Energies for refinery optimization and petroleum products trading, signs deal with Sembcorp Fuels, and reports Q4 FY23 revenue of $59.237 billion, surpassing estimates and raising dividends by 7.1%.
The partnership with Bapco Energies and the deal with Sembcorp Fuels highlight TotalEnergies' strategic expansion and operational optimization, likely boosting investor confidence. The reported revenue surpassing expectations and the increase in dividends further strengthen the positive outlook for TTE in the short term, suggesting a likely upward movement in its stock price.
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